Question: QUESTION 3 Use the following information to answer the next two questions: Counsel Manufacturing Company prepared the following static budget income statement for 2020: Sales

QUESTION 3 Use the following information to answer the next two

QUESTION 3 Use the following information to answer the next two questions: Counsel Manufacturing Company prepared the following static budget income statement for 2020: Sales Revenue Variable Costs Contribution Margin Fixed Cost Net Income $125,000 (75,000) 50,000 (30,000) $ 20,000 The budget was based on an expected sales volume of 5,000 units. Actual sales volume was 6,000 units. 3. The amount of net income based on a flexible budget of 6,000 units is expected to be a. $24,000. $26,000 $30,000. d. $45,000. QUESTION 4 4. The sales revenue volume variance is a. $25,000 favorable. b. $10,000 unfavorable. c. $4,000 unfavorable. d. $6,000 favorable

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